Business NEWS

Mystery behind Jamie Dimon bonus decline!

By Amarendra Bhushan for CEOWORLD Magazine Updated:December 20, 2008

While JP Morgan Chase & Co’s CEO Jamie Dimon doesn’t intend to ask for a bonus, like nearly every CEO in the banking industry because of weakness in the stock market and the general economy, Dimon’s deputies are expected to receive bonuses based on their divisions’ performance, the Times reports.

Dimon joins a raft of other chief executives who are not receiving bonuses for a year when the credit crunch walloped the banking sector and forced government rescues.

Banks face mounting criticism that bonus systems are rewarding executives for taking on irresponsible risks. Taxpayer sentiment has turned against Wall Street and its highly paid bankers as financial companies have received billions of dollars in government money.

Who is James Dimon?

Chairman of the Board and Chief Executive Officer
of JPMorgan Chase

Director since 2000 of JPMorgan Chase
or a predecessor institution

Mr. Dimon became Chairman of the Board on December 31, 2006, and has been Chief Executive Officer and President of JPMorgan Chase since December 31, 2005. He had been President and Chief Operating Officer since JPMorgan Chase ’s merger with Bank One Corporation in July 2004. At Bank One he had been Chairman and Chief Executive Officer since March 2000. Prior to Bank One, he had held various senior executive positions at Citigroup Inc., its subsidiary, Salomon Smith Barney, and its predecessor company, Travelers Group, Inc. Mr. Dimon is a graduate of Tufts University and received an MBA from Harvard Business School. He is a director of The College Fund/UNCF and serves on the Board of Directors of The Federal Reserve Bank of New York, The National Center on Addiction and Substance Abuse, Catalyst and Harvard Business School and is on the Board of Trustees of New York University School of Medicine.

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Tagged with: James Dimon, JP Morgan, JP Morgan Chase & Co, JPMorgan

richardtgeiser

Prior to being contacted by TechLasers, I had very little knowledge of laser pointers or laser technology in general. What I did know was rudimentary: there were different types, red, green and blue, for example. Red was the most common and green and blue being much more powerful and expensive, at least in the “laser pointer” market. The more powerful the laser pointer, the further it could go. I also knew that lasers do not get perceptively wider or less dim as they travel distances (they actually do obviously). Think about a flashlight, the chase.com further away it is, the wider the dispersal of the beam and the dimmer the beam. With a laser, if you were to measure the glowing red or green dot as it appears 10 feet away or 1000 feet away, it would be practically the same size and brightness (obviously, it does change somewhat the further the light travels).